Does this story ring any alarm bells with you? Because it should. A salesperson for a retail management consulting and training company calls or emails you and gives you the hard sell. He tells you how your retail stores will increase sales and profits by some large percentage and that you’ll recover your investment in no time at all….
In recent times, the prevailing trend in retail stores points towards a drastic reduction in active selling, irrespective of the global pandemic’s implications on social distancing norms. The dynamics of human interaction have shifted significantly compared to the early 2000s, with traditional selling steps such as customer greeting, need identification, and more becoming increasingly obsolete. With the pandemic under…
Unpacking the Fundamentals of the Sales Process If you’re new to the sales or service industry, this guide serves as a gentle introduction to the primary steps involved in a typical sales process. While seasoned professionals might adapt these steps to their unique selling style, novices are encouraged to closely adhere to them until a personalized approach emerges. Every…
If you believe that hiring staff, guiding them through onboarding documents, giving them a brief overview of your shop and your clientele, instructing them on equipment usage, and then setting them loose on your retail floor won’t affect your sales, you’re sadly mistaken. In no uncertain terms, you’re undoubtedly experiencing a sales slump. Do you concur? If you’re similar…
As we approach the second half of the fiscal year, you may already feel it speeding by. Preparing now can set your team up for success during the forthcoming hectic times. It’s crucial to ensure your management team is closely monitoring each sales associate’s performance. This becomes even more important during quieter times when every customer counts and the…
With the bustling holiday season behind us, you now have a chance to focus on managing your team’s sales performance. Thus, we are offering 10 strategies to boost retail sales, which can be helpful during coaching sessions. In the midst of peak shopping periods, assessing your team members’ performance can be challenging. Sales often come easy when customers are…
It’s about time DMSRetail shared its thoughts on performance-based compensation plans in the retail industry. First and foremost, let’s debunk the misconception that performance-based compensation plans negatively impact the shopping experience. This is far from the truth. Instead, a well-structured, straightforward performance-based compensation plan can actually improve the shopping experience. Those who buy into this misconception fail to see…
External Conditions Most retailers generally plan their targets, or budgets, based on the actual sales of the previous year. As the saying goes ‘past performance is a great indicator of future performance’. But every wise retailer will also carefully look at external conditions before committing a target or budget to paper; before using the numbers as a basis for…
CRYING OVER MISSED OPPORTUNITIES…LOST REVENUE? Some retail teams don’t seem to understand the importance of ‘making the sale’. Why? Really, retailers should be wondering ‘why aren’t the people on the sales floor, motivated to sell our products’? A sales associate in a large furniture retail store is much more inclined to ‘sell’ products to customers than a floor/service/sales associate…
Comprehensive Report on Prescriptive Analytics 1. Introduction…
Comprehensive Report on Predictive Analytics in Retail…
